Nobody will be a better advocate for your deal than you. Make sure you start procuring your insurance weeks before you close. We require proof of a builder’s risk insurance policy that must be pre-paid for 6 months in order to close your loan. You must submit a certificate of insurance that lists One West Associates, Inc. as the mortgagee. You must also evidence you have General Liability coverage limits of $1,000,000 and list One West Associates, Inc. as an additional insured.
Once you have a property under contract you need to communicate regularly with the title company. Title companies may need additional documents from you. Sometimes issues may arise when it comes to title matters so stay on top of your deal. If the title requests are not addressed promptly, it can delay your closing.
